According to CoinMeta, analyst Darkfost states that the cost base for short-term Bitcoin holders has surpassed that of active long-term holders, marking the fifth time in history that a bull market confirmation signal has appeared. Currently, there are over 3.5 million BTC coins that have been held for more than 10 years and are in a dormant state; this portion of the supply increases by an average of about 8,000 to 30,000 BTC coins per month. Since 2019, this indicator has only shown negative growth once, which was due to an early miner transferring approximately 100,000 BTC coins. Darkfost believes that this signal reflects positive changes in the Bitcoin market, and the inflow of liquidity is one of the driving factors.